patrick.net

"Indeed, a 2012 study by NYU Professor Edward Wolff found that the median net worth of American households was at a 43-YEAR LOW. The average American in the 21st century was in worse shape than his 1970s counterpart."

Read more at http://investmentwatchblog.com/the-truth-about-the-feds-relationship-with-bubbles-the-fed-wants-bubble/#z5TlCM8DBA5oKiR4.99

I've said before that I am no better off today in my slightly above average median income job than that of my single mother of four on public assistance was in the 1970's

From their website:

Today, the Federal Reserve's duties fall into four general areas:
•conducting the nation's monetary policy by influencing the monetary and credit conditions in the economy in pursuit of maximum employment, stable prices, and moderate long-term interest rates
•supervising and regulating banking institutions to ensure the safety and soundness of the nation's banking and financial system and to protect the credit rights of consumers
•maintaining the stability of the financial system and containing systemic risk that may arise in financial markets
•providing financial services to depository institutions, the U.S. government, and foreign official institutions, including playing a major role in operating the nation's payments system